63N-3-1708. Major sporting event venue zone boundaries -- Reporting requirements.
(1) After a major sporting event venue zone is approved by the committee, as described in Section, the committee shall provide notice to the State Tax Commission, no later than 90 days after the day on which the committee approves the proposal: 63N-3-1706 of the creation of the major sporting event venue zone, including the information described in Subsection; (2) if the committee approves the creating entity to receive local sales and use tax increment, the information described in Subsection; and (3) any information to the State Tax Commission required by the State Tax Commission.
(2) The notice described in Subsectionshall include: (1)(a) a statement that the major sporting event venue zone will be established under this part; the approval date and effective date of the major sporting event venue zone; the boundary of the qualified development zone; the sales and use tax base year, if applicable; and the sales and use tax boundary, if applicable.
(3) After the effective date of a major sporting event venue zone, as described in Section, the creating entity shall provide a written report, no later than August 1, on the creating entity's activities to implement the objectives of the major sporting event venue zone to the executive director. 63N-3-1707
(4) If the creating entity intends to receive or receives tax increment, as defined in Section, the creating entity shall comply with the requirements described in Title 59, Chapter 36, Tax Increment Financing Reporting. 59-36-101
(5) The executive director shall annually provide a written report, no later than October 1, summarizing all reports received by the executive director under Subsection, to the: (3) Revenue and Taxation Interim Committee; Political Subdivisions Interim Committee; and Economic Development and Workforce Services Interim Committee. The executive director shall include with the written report described in Subsectionany recommendations to the Legislature for statutory changes to this chapter or Title 11, Chapter 71, Major Sporting Event Venue Zones. (4)(a)